Successful Portfolios LLC Increases Holdings in Alphabet Inc (NASDAQ:GOOGL)

Successful Portfolios LLC increased its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 16.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,034 shares of the information services provider’s stock after purchasing an additional 147 shares during the period. Alphabet accounts for about 1.2% of Successful Portfolios LLC’s holdings, making the stock its 17th biggest holding. Successful Portfolios LLC’s holdings in Alphabet were worth $1,263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in GOOGL. Litman Gregory Asset Management LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at about $37,000. Belvedere Advisors LLC acquired a new stake in Alphabet during the first quarter worth about $38,000. Thor Advisors LLC acquired a new stake in Alphabet during the first quarter worth about $45,000. Lipe & Dalton acquired a new stake in Alphabet during the second quarter worth about $49,000. Finally, Johnson Financial Group Inc. raised its stake in Alphabet by 26.3% during the second quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after acquiring an additional 10 shares during the period. 33.50% of the stock is owned by hedge funds and other institutional investors.

GOOGL stock traded up $6.24 during midday trading on Friday, reaching $1,215.71. The company had a trading volume of 1,116,202 shares, compared to its average volume of 1,311,059. Alphabet Inc has a 1 year low of $977.66 and a 1 year high of $1,296.97. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $842.22 billion, a P/E ratio of 25.59, a PEG ratio of 1.40 and a beta of 0.99. The company has a 50 day moving average of $1,206.08 and a two-hundred day moving average of $1,174.07.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The company had revenue of $31.71 billion during the quarter, compared to the consensus estimate of $30.90 billion. On average, sell-side analysts anticipate that Alphabet Inc will post 51.29 earnings per share for the current year.

Several equities research analysts recently weighed in on the stock. KeyCorp reiterated an “overweight” rating and set a $1,516.00 price objective (up previously from $1,430.00) on shares of Alphabet in a research note on Friday, July 26th. Mizuho increased their price objective on shares of Alphabet from $1,350.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Stifel Nicolaus reiterated a “hold” rating and set a $1,287.00 price objective on shares of Alphabet in a research note on Tuesday, July 23rd. Jefferies Financial Group increased their price objective on shares of Alphabet from $1,450.00 to $1,500.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Finally, Royal Bank of Canada increased their price objective on shares of Alphabet from $1,425.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Eight research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $1,375.78.

Alphabet Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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